A personal finance and investing blog
Citi sent me a special offer letter to enroll for a 20% bonus on eligible cash back purchases with my credit card until 1/31/2011. Initially, the 20% really caught my attention. I thought it was going to be a 20% cash back on my purchases. After reading the fine print, I noticed that the 20% bonus only applies to the 1% base cash back, for a total of 1.2% cash back on the credit card. Nevertheless, an extra 0.2% cash back is still better than none.
Related: Credit Cards
Using a credit card is very safe these days if you take the necessary precautions. There are many unscrupulous folks out there, criminals, opportunists and the like, who are waiting for you to slip up and make it possible to steal your credit card information. You do not have to fall prey to their tactics if you know what to look out for.
If you follow these top ten tips, you can purchase safely and will not become a credit card scam victim. (more…)
Having a good credit history is one of the most important things in your financial life. Anyone who has ever struggled with poor credit will tell you how difficult it makes their life. People who have no credit or poor credit have a more difficult time getting loans but they also may have a harder time doing other things like renting a place to live. These days your credit history is checked for a long list of transactions because it indicates whether or not you are someone who pays their bills on time.
So, even in cases like renting an apartment where you are not actually borrowing money from someone your credit history will come into play. On top of that, your credit history dictates what type of rates you will receive when you apply for loans or other forms of credit. Having a good credit history can mean the difference of hundreds or even thousands of dollars spent on interest.
If you do not have any credit, it is much easier to build a positive credit history then it is to repair one that has been damaged. That is why it is so important that you constantly remain vigilant when it comes to maintaining your credit file. No one cares more about your credit history then you do, so you should absolutely make it your business to stay aware of any potential pings to your credit file and your current credit score.
Tips For Generating A Good Credit History (more…)
FIA Card Services sent me a special offer letter to enroll in their 3% cash back offer. The 3% cash back offer applies to qualifying back to school purchases on my Rewards American Express Card, up to $800, until September 30, 2010.
Earn 3% cash back on eligible purchases (up to $800) through September 30,2010:
I enrolled online with my Fidelity Rewards American Express card and received a confirmation message. I will be able to earn 3% cash back on eligible purchases until September 30, 2010. Check your mail to see if you have received this special offer from FIA Card Services.
What is the best way to maximize this special offer?
Related: Credit Cards
Chase now offers free real-time fraud alerts on Amazon.com Rewards Credit Card. When Chase knows about a suspicious transaction, you will be alerted on your mobile device
I received an email from them and signed up. It took only one minute. Note that standard text messaging and other rates from your wireless provider will apply to your text messages. Since I have an unlimited text plan, it is not an issue for me. However, for those who pay for individual text messages, it is still worthwhile to sign up, because fraud alerts can potentially save you thousands of dollars.
This is how the fraud alert works:
I received a promotion offer for my existing Discover Card, a 0% APR on new purchases made from July 1, 2010 through December 31, 2010. The 0% APR on the balance is good until the last day of my billing period in January 2011, which gives me a 6-month interest-free period. This offer came in at a good time and I have a good idea to advantage of it.
Make Money Combo: Discover Card 0% APR + US Mint $1 Coins
Use the Discover Card to purchase Presidential Dollar Coins from US Mint. The purchases will be charged dollar-to-dollar, which also receives Discover Card cashback Bonus, and the purchases will be interest-free for six months. It is like a 0% balance transfer, except with cashback and without the balance transfer fees.
I have a credit limit of $4,800. I could purchase 4,800 coins with free shipping and rack up 4,800 credit card points. I can either deposit or spend the coins.
Related: Credit Cards
A large number of Americans today are slammed by credit card debts. Personal bankruptcies have doubled in the past decade and the average house in America carry some $8,000 in credit card debt!
Dealing with your credit card debt can be nerve-racking. In such a stressful time, choosing the wrong method to come out of debt can push you further into the hole. Therefore, it is very important that you choose the right option for yourself that will help you to shed your debts successfully. Here are some tips to consider: (more…)
Background
In the city that never sleeps, there are taxis roaming the streets at all times of the day. There are always taxis stopping at every corner of the street and often holding up traffic. Once, on my way home, there was this taxi that stopped right in front of the bus I was sitting on. The bus honked but the taxi driver didn’t move. The taxi driver was closing a transaction with the passenger. It took about 30 seconds, but 30 seconds is a long time in a fast pace city. So I thought, “How can we speed up money transactions in cabs?”
Business Idea
The idea is to allow the customer to pay with a debit card and have the payment processed instantly on the spot. The goal is to speed up the payment transaction time and implement a central payment processing system for taxis. The user will have an option to select an additional amount for tips. For security purposes, the user will have to punch in a pin number to approve the payment.
Debit Card Interface
The machines will have numeral keys zero to nine, a pre-defined 10%, 15%, and an ‘Other’ tip button, an ‘Enter’, and a ‘Cancel’ button. The pre-defined tip buttons are set for the customer’s convenience.
Implementation
There will be two debit card readers in the taxi, one in the front passenger seat and one at the back seats. The readers are linked to the taxi meters. The card readers will sync with a central server on a pre-determined period to keep the local card reader database up to date. The sync process can be done with wires or over a wireless network.
Scenario
Customer enters a taxi. The taxi travels from Point A to Point B. Before arriving Point B, the customer swipes his/her debit card on the machine. The machine now has the card number stored. Once the taxi reaches the destination, the total fare is displayed to the customer. The customer enters the tip amount by pressing the pre-defined 10% button and then enter his/her pin number to approve the transaction. The payment is processed instantly and the customer leaves the cab. No bills, no coins, no hassle.
Benefits
The debit cards will save time for both the customer and the taxi driver, plus speed up traffic. The taxi drivers in New York City frequently double park on busy streets and block traffic. The debit card system can help speed up the payment transaction times and allow the cab to move with traffic sooner.
Tracking
The machine will also log detailed information and the information can be access via a website. The taxi driver will be able to get reports on how many customers have ridden over the past day, week, or month, as well as fare earned, average fare, etc. The customers can also get similar reports on his/her number of cab rides over the past week, month, or year, as well as the amount spent, average cost, etc. The website will also allow customers to refill their debit card balance.
Additional Features
The taxi payment system can be integrated with credit card systems to allow more types of payments. This also makes payments more convenient for customers who do not have taxi debit cards.
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